A tier one global bank was seeking a global change delivery partner that could provide a flexible change management model to help them realize material cost savings, primarily through the creation of a sizeable offshore change delivery capability.
Change agendas today are ever-increasing and driven largely by industry and regulatory shifts. To meet this need, the bank was looking for a flexible, scalable change resource ‘ramp up and ramp down’ model based on demand across a number of key global locations. Rather than use a variety of vendors on an ad-hoc basis, they were looking for one dedicated change partner, with a global talent pool of deep domain and business consulting experts.
HOW WE DID IT:
Capco leveraged its global change transformation capability to provide the following key services:
- Transition: Our target operating model (TOM) and organization design methodologies expedited mobilization and governance setup both onshore and offshore. To accelerate the transition, four of the client’s senior change executives were formally on-boarded to Capco, along with a small group of the client’s change execution team. During this period, we also created a dedicated offshore delivery center in the client’s Bangalore office & co-led the identification of onshore roles to move offshore. During the first 12 months of the partnership, 70+ onshore roles were successfully transitioned offshore (scaling up to 120 at peak).
- Stabilization: We focused on stabilization of people and projects to ensure the client continued to deliver on critical mandatory and discretionary change commitments. During this period, investment was made to build the global change community and keep engagement levels high across the organization. This included the roll-out of advanced change training to the client’s in-house change personnel, to drive an uptick in execution quality. Progress was measured using a series of robust KPIs and metrics, which were reviewed at an executive level on a monthly cadence.
- Innovation: We partnered with the client to facilitate a pivot towards innovative modern delivery and Agile ways of working. This included the transition of traditional change roles (PM, BA etc) to Agile change delivery roles (Scrum Master, Product Owner, etc.), and the ability to move to Distributed Agile at scale. In addition, we leveraged outcome-focused innovation techniques such as design thinking to solve some of the clients’ most complex problems.
WHAT WE DELIVERED:
We are proud to share that the partnership with the client was extended beyond the initial five-year term and will soon be going into its ninth year.
We believe our continued ability to deliver complex, multi-year transformation change programs at scale across key metro, nearshore and offshore locations, coupled with significant cost savings and change capabilities have been testament to this enduring partnership.
Our key delivery highlights include:
- Enabling the client to achieve 30 percent change-the-bank (CTB) cost savings within 12-18 months, with the ability to seamlessly flex up / down cost and capacity without delivery impact
- Deployment of 350+ domain and business consulting experts across 7 global locations, including the creation of a dedicated offshore delivery center in India to host 100+ change roles from Capco’s Bangalore office
- Delivery of multiple mission critical industry, regulatory and business change programs, including legal entity migration (Brexit), regulatory compliance (MiFID, EMIR, OFAC) & revenue generation (wealth operations)
- Delivery of change training to over 6,500 client personnel globally, across the investment bank and wealth operations
- Recognized as an official innovation partner to the client, with delivery of 20+ design thinking initiatives globally
- Utilizing Capco’s Data Practice for CDO advisory and delivery of key strategic data initiatives, including design and embedding a revised global firmwide data policy.
For more information on Capco's change delivery capabilities, please reach out to: Rachael Zukerman and David Oxenstierna.